LiteLink Technologies Signs Letter of Intent for Strategic Commercial Relationship with International Supply Chain Partner Control Union
VANCOUVER, Feb. 20, 2020 /CNW/ - LiteLink Technologies Inc. ("LiteLink") (CSE:LLT) (OTC:LLNKF) (FRA:C0B), a key player in logistics and supply chain platforms, is pleased to announce that it has entered into a non-binding letter of intent ("LOI") with Control Union Guatemala S.A. ("Control Union"), the terms of which provide for a strategic commercial relationship between the parties, including a joint go-to-market with LiteLink's 1SHIFT Logistics platform in Central and South America.
Control Union has been operating for over 100 years in the field of logistics, quality, certifications and risk management. To this day, Control Union operates in more than 70 countries and employs more than 4,000 people around the globe. Control Union covers all aspects of the supply chain in many industries including agriculture, energy, forestry, sustainability and textiles.
Under the terms of the LOI, LiteLink would provide Control Union with all the tools and materials necessary to go-to-market with 1Shift Logistics to their existing client base, significantly reducing friction and the cost of acquisition for the platform. The parties would determine revenue split upon the successful completion of a trial customer, and each party would bear their own cost of sales. The proposed agreement would remain in effect for the first 24 months, with auto renewal for successive 12 month terms. LiteLink and Control Union have also defined their first two target customers that would validate the transition from a letter of intent to a definitive commercial agreement.
"1SHIFT Logistics is fast and efficient logistics made easy for Freight Forwarders, Shippers, Distributors and Carriers," said Malcolm Graham, Regional Director of Control Union Central America. "The platform with its web, mobile driver solutions, and cold chain sensors will open up an untapped supply engine for established shippers and carriers. With Control Union's deep supply chain experience and network paired with the 1SHIFT Logistics platform I can see how we can drive even more value and drive end to end trust and operational efficiencies."
"By providing a blockchain track and trace solution, 1SHIFT Logistics is not only giving the desirable visibility to all the actors in the chain, but also to the insurance companies covering these operations, representing more controls and therefore a notorious decrease in operational risks", stated Julián de Ambrosi, Country Manager of Control Union Mexico.
"I was quite impressed with the level of process, maturity and global adoptions of the Control Union team members that I met at the Produce Marketing Association late last year in Anaheim, California," said LiteLink CEO Ashik Karim. "Control Union has the scale, discipline and background of ensuring goods have minimal risk during transport. It was a natural fit to pair our 1SHIFT visibility and marketplace that has the backing of immutable proof of blockchain with a global leader commodity certification of quality.''
To see the 1Shift and Control Union go-to-market product go to: https://1shiftlogistics.com/.
About Control Union
Established in 1920 as a family owned inspection company for grain that was traded and transported on the rivers and canals of the Netherlands, Control Union has since grown to become the local, global expert for risk management, logistic solutions, quality control, and certifications and sustainability.
For more information, contact Malcolm Graham or Julián de Ambrosi at [email protected] and [email protected].
About 1SHIFT Logistics
1SHIFT is an end-to-end logistics management solution that enables real-time transparency and tracking as well as peer-feedback and regulation. Users can make tactical and strategic decisions based on accurate, real-time data to stay ahead of the competition. 1SHIFT improves resource allocation and efficiency through planning tools and historical analytics, directly improving profitability. The 1SHIFT model was designed to support the mom & pop shops as well as the largest logistics companies in the world with ease.
About LiteLink Technologies Inc.
LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) (FRA:C0B:FF) is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows freight forwarders, brokers, shippers, and carriers to track shipments and settle payments in real-time.
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain certain forward-looking statements and information (together, "forward-looking statements") within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "will", "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the nature of the business of LiteLink and other factors or information. Such statements represent LiteLink's current views with respect to future events and are necessarily based upon a number of assumptions and estimate that, while considered reasonable by LiteLink, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. LiteLink does not intend and does not assume any obligation to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
SOURCE LiteLink Technologies Inc.
Ashik Karim at [email protected]
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